Cargolux Sees Second Straight Double-Digit Drop

Freight traffic at Cargolux Airlines dropped 10.8 percent in October, the second straight double-digit decline at Europe’s largest freighter operator, according to figures from the Association of European Airlines.

The year-over-year decline was the largest among Europe’s major air carriers and came during what is usually the peak month in the expedited shipping season.

That peak season has been especially weak in Europe as the European Union has wrestled with the fallout of a debt crisis in Greece and concerns about the impact on the euro.

Luxembourg-based Cargolux saw traffic, measured in freight metric-ton kilometers, fell 11.1 percent year-over-year in September. The carrier’s traffic did grew 6.5 percent sequentially from September to October, according to figures reported by the AEA.